What is in store for the US economy?

Between 2001 and 2005 an estimated $2.4 trillion in wealth was created from the refinancing of mortgages and home equity loans. This money was only available because of artificially escalating housing prices. And when this easy money spigot was shut off, a private debt crisis was created. Meanwhile, the Fed does everything it can to […]

Moody’s Dim Forecast for Housing and the Economy

The analysts at Moody’s Investors Service are downbeat in their outlook for both the U.S. economy and the housing market, warning that there’s a stronger chance the country will slide back into a recession, and they are forecasting a “longer and deeper housing correction.” Mark Zandi, chief economist for Moody’s Analytics, says the U.S. recovery has lost […]